Media365
US President Donald Trump has signed an executive order extending a tariff truce with China by another 90 days, a White House official said on Monday with only hours to go before US tariffs on Chinese goods were due to snap back to triple-digit rates.The order followed a noncommittal answer by Trump to reporters as to whether he would extend the lower tariff rates a day after he urged Beijing to quadruple its purchases of US soybeans.A tariff truce between Beijing and Washington was set to expire Tuesday at 00.01 ET (04.01 GMT). The order prevents US tariffs on Chinese goods from shooting up to 145%, with Chinese tariffs on US goods set to hit 125%, rates that would have resulted in a virtual trade embargo. “We’ll see what happens,” Trump has said when asked how he planned to extend the deadline. “They’ve been dealing quite nicely. The relationship is very good with President Xi and myself.” (This is a Reuters copy)
